logo
US tariff by the numbers

US tariff by the numbers

FOLLOWING the US' new tariffs, as posted on the White House website, here's some key data that we have observed:
* Mexico faces a 25 per cent fentanyl tariff, 25 per cent cars tariff and 50 per cent tariff on steel, aluminium and copper - all which kick in 90 days.
* Goods from the European Union face a range of zero per cent to around 15 per cent tariffs. These rates kick in on Aug 7.
* Traditional partners and many smaller or deficit running economies remain at the 10 per cent baseline, often subject to diplomatic negotiation for reductions.
* The highest tariffs (49-50 per cent) target small economies with historical trade barriers or oversized trade surpluses to the US (e.g. Lesotho, Cambodia).
* Major Asian exporters like Vietnam, India, Taiwan, Indonesia and Malaysia face medium high tariffs (19-25 per cent).
* Some countries (e.g. Israel, Iceland) negotiated lower-than-initial rates around 15-17 per cent.
We've also summarised it:
10 per cent - Brazil, Falkland Islands, United Kingdom and all other countries not listed in the executive order (including Singapore)
15 per cent - Afghanistan, Angola, Bolivia, Botswana, Cameroon, Chad, Costa Rica, Côte d`Ivoire, Democratic Republic of the Congo, Ecuador, Equatorial Guinea, Fiji, Ghana, Guyana, Iceland, Israel, Japan, Jordan, Lesotho, Liechtenstein, Madagascar, Malawi, Mauritius, Mozambique, Namibia, Nauru, New Zealand, Nigeria, North Macedonia, Norway, Papua New Guinea, South Korea, Trinidad and Tobago, Turkey, Uganda, Vanuatu, Venezuela, Zambia, Zimbabwe
18 per cent - Nicaragua
19 per cent - Cambodia, Indonesia, Malaysia, Pakistan, the Philippines
20 per cent - Bangladesh, Sri Lanka, Thailand, Taiwan, Vietnam
25 per cent - Brunei, India, Kazakhstan, Moldova, Tunisia
30 per cent - Algeria, Bosnia and Herzegovina, Libya, South Africa
35 per cent - Iraq, Serbia, Canada
39 per cent - Switzerland
40 per cent - Laos, Myanmar
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Mixed reactions to 19% tariff on M'sian exports
Mixed reactions to 19% tariff on M'sian exports

The Sun

time4 hours ago

  • The Sun

Mixed reactions to 19% tariff on M'sian exports

PETALING JAYA: The recent announcement of a reduction in the tariff rate on Malaysian exports to the US, from 25% to 19%, has been portrayed as a major trade win. However, economist Dr Geoffrey Williams has raised concerns over the anticipated benefits of the 6% reduction in import levy for Malaysian goods going into the US. Williams told theSun the tariff reduction only puts Malaysia on a level playing field with Indonesia and the Philippines. He added that the new tariff of 19% accords Malaysia an only marginally better position when stacked against major exporter Vietnam. He compared Malaysia's rate to other countries such as Japan, Korea, the United Kingdom and the European Union, which received bigger reductions. 'Overall, it is just a marginally better position but it still hits Malaysian exports hard. If it causes just a 10% reduction in exports to the US, it will cost RM20 billion. This is RM670 for every Malaysian.' Malaysia joins peers such as Indonesia, Cambodia, Pakistan and the Philippines at the same tariff rate, while rates on other countries range between 10% and 41%. Williams said Malaysians need to understand what concessions were demanded by the US and what was refused by Malaysia. He foresees business groups calling for government help and support. 'But this will only increase costs to the government, which may redirect subsidy savings to business bailouts. Malaysian Palm Oil Council chief executive officer Belvinder Kaur Sron said the 19% tariff would inevitably have some cost implications for US palm oil importers. However, she does not anticipate any significant impact on Malaysia's overall palm oil exports to this market. 'Most of Malaysia's exports to the US cater to niche, high-value segments.' Belvinder said in the first half of 2025, over 80% of Malaysia's palm oil exports to the US were certified sustainable palm oil and used in high value-added applications. 'Additionally, 11% comprised palm stearin, a key ingredient in food manufacturing and personal care products. These products cater to specialised segments where substitute options are limited, making overall demand relatively inelastic.' She said palm oil exports to the US rose by 35.7% in the first half of 2025, reaching 103,000 metric tonnes compared with 76,000 metric tonnes in the same period last year. 'Malaysia and Indonesia accounted for 97% of palm oil imports into the US in 2024. 'Since both countries are currently subject to the same import tariff of 19%, we continue to compete on a level playing field.' Malaysia Semiconductor Industry Association executive director Andrew Chan said semiconductors are currently excluded from the 19% country tariff, pending a Section 232 review of the US Trade Expansion Act 1962. 'Most electrical and electronic exports to the US, primarily intermediate goods, also fall outside the 19% tariff. 'Although the 19% rate is not the best we could have hoped for, it's also not the worst.' Chan said with details of the negotiations still unclear, it's hard to know what Malaysia may have offered or refused in exchange.

Behind Trump's South Korea deal, a plan to transform global shipbuilding
Behind Trump's South Korea deal, a plan to transform global shipbuilding

The Star

time16 hours ago

  • The Star

Behind Trump's South Korea deal, a plan to transform global shipbuilding

South Korea has pledged US$150 billion to help its shipbuilders enter the US market as part of its new trade deal with Washington, a move that could help America revive its shipbuilding industry and counter China's dominance in the sector. US President Donald Trump announced on Wednesday that the United States and South Korea had agreed a 'full and complete' trade deal, which would see the US impose a 15 per cent tariff on South Korean goods and receive US$350 billion of investment from its Asian ally. Shortly after, South Korean President Lee Jae-myung stated that US$150 billion of the promised investment would be dedicated to shipbuilding – an industry where South Korean firms are second only to China in global market share. The capital would provide 'solid support' for South Korean companies entering the US shipbuilding industry, Lee wrote in a Facebook post on Thursday. The wider US$350 billion investment package was intended to solidify bilateral cooperation in strategic industries, including semiconductors, he added. Seoul clarified in a media briefing on Thursday morning that the promised funds would not come in the form of direct equity investments, but 'will primarily consist of loans and guarantees'. Earlier this week, local media outlets in South Korea reported that Seoul had proposed a multibillion-dollar project to Washington named 'Make American Shipbuilding Great Again' during their trade negotiations, which would involve large-scale investments in the US by Korean shipbuilders and government financial support measures. State-run entities like the Export-Import Bank of Korea and Korea Trade Insurance Corporation were being considered for involvement in the scheme, South Korea's Yonhap News Agency reported on Monday. South Korea's shipbuilding industry is regarded as being uniquely positioned to assist Washington's ambition of reviving American shipbuilding and restraining China's dominance in the sector. Earlier this year, Washington announced plans to begin charging steep port fees targeting China-built or operated vessels from October. The policy appears to already be benefiting South Korea's shipbuilders as companies become nervous about placing new orders with Chinese shipyards. In the first half of 2025, South Korea's share of new vessel orders rose to 25.1 per cent in vessel gross tonnage terms, compared with 15 per cent last year. China's share, meanwhile, slipped to 51.8 per cent from 70 per cent, according to a report released by the Export-Import Bank of Korea on Monday. The report said South Korea's recovery in market share had largely been driven by US-China tensions, but added that the benefits may not last long, as US actions against China were likely to push up freight rates and logistics costs on US routes. However, analysts expressed scepticism about the feasibility of Seoul's investment pledge and cautioned that rebuilding America's shipbuilding capacity would likely be a long and challenging process. 'It is not the foreign country investing in the US. It is individual companies doing it, and the government cannot dictate what they will do,' said Lars Jensen, founder of the maritime consultancy Vespucci Maritime. He added that it was easy to announce a large investment figure over an unspecified time period, but that the actual implementation would be a different matter. Wu Jialu, a chief analyst of industrial research at Citic Futures, said the US$150 billion investment may prompt South Korean shipbuilders to build or acquire shipyards in the US, providing talent and technological support. South Korean firms could help improve the competitiveness of the US shipbuilding industry, particularly in the construction of high-value-added vessels, but reviving the whole industry would still be a protracted process due to supply chain and capacity limitations, she said. The full impact of the US port fees has yet to become clear, and future market trends would also depend on fleet renewal and upgrading demand, Wu added. Hanwha Ocean, one of South Korea's top shipbuilders, made a major investment in December to acquire Philly Shipyard in Philadelphia, which is currently the only US shipyard that is operated by a South Korean company. In late July, Hanwha Ocean's US subsidiary placed an order for a liquefied natural gas carrier at the Philly Shipyard, the first LNG carrier for export to be built in the US in nearly five decades. However, a significant portion of the construction will be carried out at Hanwha Ocean's Geoje shipyard in South Korea, while the Philly Shipyard will be responsible for US regulatory compliance and safety certifications, Hanwha said, noting it was 'laying the foundation for a collaborative production framework'. Japan also finalised a deal with the US in July that will see the creation of a US$550 billion fund to invest in a range of projects, including the construction and modernisation of US-based shipyards. - SOUTH CHINA MORNING POST

Who makes laundry smell nice? Meet the professional 'noses'
Who makes laundry smell nice? Meet the professional 'noses'

Sinar Daily

time20 hours ago

  • Sinar Daily

Who makes laundry smell nice? Meet the professional 'noses'

HOLZMINDEN - In the laboratories of German fragrance and flavours giant Symrise, a citrus scent clings to the lab coats of trainees, "noses" who are learning the art of making things smell good. These busy heroes of the world of smells and aromas shape the connection millions of consumers have with everyday items. While at high-end perfume labels, olfactory artists create scents for luxury body sprays, Symrise's experts work on everyday products that might range from mint-flavoured toothpaste to barbeque chips. Smell, a powerful sense that can trigger emotions and memories, and aroma often decide which food or beverage, cleaning or personal hygiene product ends up in the shopping cart. At Symrise's headquarters in Holzminden, a quiet town south of Hanover, each day at the company's in-house perfumery school begins the same way: sniffing out scents from dozens of tiny bottles while blindfolded. "It's just like tuning a musical instrument before you play," said Alicia De Benito Cassado, a 32-year-old former professional pianist from Spain. Her career switch into scent development was a natural step: she made her own perfumes as a teenager to match the poetry and music that she wrote. "For me, not everything has to smell good," she said. "The horror of smell also helps us discover ourselves." But commercial clients demand something different, De Benito Cassado added. "In the end, we need to create scents that are strong, beautiful, powerful and affordable." - Professional sniffers - Being a "nose" is a full-time job and comes with a three-year training programme. The smell of a fabric softener can be composed of 80 compounds, far more than in a premium body perfume and the best noses can make out over 1,000 different odours while blindfolded. Junior perfumers (L-R) Attiya Setai, Shangyun Lyu and Alicia de Benito Cassado hold smell strips which are used to evaluate fragrances in a mixing room at the Symrise company, where perfume oil formulas are developed, in Holzminden, central Germany. Photo by Michael Matthey/AFP Shangyun Lyu, 31, came from China to study at the school and says that a professional sniffer can get by with knowing about 500 scents. Being able to break down odours into their chemical components is key. "As a kid, I just smelled jasmine or gardenia as flowers," he said. "Now, I recognise the chemicals: it's a blend of many elements." Students weigh ingredients down to the milligramme, mix, smell and start over, often by replicating existing smells to understand their structure and then innovate from there. "When developing perfume, it is very important that several people smell it," said 56-year-old master perfumer Marc vom Ende, head of the school. "We all perceive smell differently." - 'Nose has the final say' - Pleasant smells cannot come at any cost and the rules of the game change over time. Lilial, a chemical once prized for its floral and sweet Lily-of-the-Valley notes, has been banned in the European Union since 2022 over fears it can cause skin irritation and damage the reproductive system. Fragrances applied directly to the body have stricter regulations than detergents, said 27-year-old South African trainee Attiya Setai. "We're more restricted in raw materials and must replace banned ingredients with new compliant ones," she said. Tastes also vary across global markets, with Shangyun pointing to the example of Chinese shampoos that sell well with a young clientele there but would struggle in Europe. "Something old-fashioned in one country can be new elsewhere," he said. Cost also enters the equation. Symrise extracts aromatic compounds from wood resin, a by-product of the paper industry, in a move "that makes both economic and environmental sense", said vom Ende. It is hard to be a nose. About 500 perfumers work in the industry and 80 of them at Symrise, which has a workforce of 13,000. The company markets about 30,000 products to clients ranging from confectioners to pet food manufacturers and suncream makers. Symrise's competitors include DSM-Firmenich, headquartered in both Switzerland and the Netherlands, as well as Givaudan, another Swiss firm. Artificial intelligence increasingly plays a role, with computer programmes predicting which fragrances will hit the mark. Still, the machines cannot -- yet -- smell, even if they can understand speech and read text. "We're supported by AI," vom Ende said. "But the nose has the final say". - AFP

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store